<PAGE>
File No. 69-333
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER
RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
_____________________________________
TO BE FILED ANNUALLY PRIOR TO MARCH 1
_____________________________________
CMS ENERGY CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to
Rule 2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, and submits
the following information:
February 27, 1995<PAGE>
<PAGE> 2
1. Name, State of organization, location and
nature of business of claimant and every
subsidiary thereof, other than any exempt
wholesale generator (EWG) or foreign
utility company in which claimant
directly or indirectly holds an interest.
_________________________________________________________
(a) CMS Energy Corporation ("CMS Energy") was duly
incorporated under the laws of the State of Michigan in 1987. CMS Energy
is a $3.6 billion (sales) energy company with subsidiaries engaged in
electric utility operations, gas utility operations, oil and gas explor-
ation and production, the development and operation of independent power
production facilities and the transportation, storage and marketing of
natural gas.
CMS Energy has three direct subsidiaries. The
name, state of organization and nature of business of CMS Energy's direct
subsidiaries are described below.
CMS Enterprises Company
A Michigan corporation engaged in the acquisition
and management of energy-related businesses and
projects worldwide.
CMS Energy Finance Corporation
A Michigan corporation engaged as a Class A Limited
Partner with CMS Energy Corporation as a General Partner
in the CMS Energy Michigan Limited Partnership
("Partnership"). The Partnership proposes to issue and
sell interests in the Partnership, including Preferred
Partner interests, and use the proceeds of sales of
interests in the Partnership to purchase indebtedness
issued by CMS Energy Corporation.
Consumers Power Company
A Michigan corporation engaged in the generation,
purchase, transmission, distribution and sale of
electricity, and in the purchase, production,
storage, transmission, distribution and sale of
natural gas, in the Lower Peninsula of the State
of Michigan. Consumers renders electric service
to approximately 1.5 million customers in 62 of
the 68 counties in the Lower Peninsula and gas
service to approximately 1.4 million customers in
45 of the 68 counties in the Lower Peninsula.
(b) CMS Enterprises Company has ten direct
subsidiaries. The name, state of organization and nature of business of
each subsidiary are described below:
CMS Capital Corp.
A Michigan corporation formed to assist in
securing financing for non-utility projects.
CMS Generation Co.
A Michigan corporation engaged in the development
of and investment in cogeneration and other
independent power generation projects throughout
the country. CMS Generation Co. is a member of a
limited liability company, Mid-Michigan
Recycling, L.C., and has thirty-four
subsidiaries:
CMS Generation Altoona Company
A Michigan corporation involved as a
General Partner in the Altoona
Cogeneration Partners Limited Partnership
which was formed to develop, construct,
own, operate and maintain a bituminous
coal, bituminous coal waste or other
solid fuel-burning facility (a qualifying
facility) under PURPA.
CMS Generation Chateaugay Company
A Michigan corporation involved as a
General Partner in KES Chateaugay, L.P.,
a limited partnership which is involved
in the ownership and operation of a 17
megawatt (net) wood-fired power plant
near Chateaugay, New York.
CMS Generation Filer City, Inc.
A Michigan corporation involved as a
Limited Partner in the T.E.S. Filer City
Station Limited Partnership, a limited
partnership which is the owner of the 54
megawatt (net) wood chip and coal-fired
electric generating station in Filer
City, Michigan.
CMS Generation Filer City Operating Company
A Michigan corporation formed to operate
a coal and wood waste-fueled power plant
near Filer City, Michigan owned by the
T.E.S. Filer City Station Limited
Partnership.
CMS Generation Genesee Company
A Michigan corporation involved as a
General Partner in the Genesee Power
Station Limited Partnership which was
formed to develop, construct, finance,
own and operate a 35 megawatt (net) waste
wood-fired electric generating facility
located in Genesee County, Michigan.
CMS Generation GP Company
A Michigan corporation involved as
General Partner in the development of
various cogeneration projects.
CMS Generation Grayling Company
A Michigan corporation involved as
General Partner in Grayling Generating
Station Limited Partnership to develop,
construct and operate a 34 megawatt (net)
waste-wood fueled power plant and sawmill
in Grayling, Michigan.
CMS Generation Grayling Holdings Company
A Michigan corporation involved as
General Partner in Grayling Generating
Station Limited Partnership to develop,
construct and operate a 34 megawatt (net)
waste-wood fueled power plant and sawmill
in Grayling, Michigan.
CMS Generation Holdings Company
A Michigan corporation involved as
Limited Partner in various proposed
partnerships.
CMS Generation Honey Lake Company
A Michigan corporation with a General
Partnership interest and a Limited
Partnership interest in HL Power Company,
a limited partnership which uses waste
wood and geothermal fluid to generate a
30 megawatt (net) electric generating
station in Lassan County, California.
CMS Generation Investment Company I
A Cayman Islands corporation involved as a
holding company for CMS Generation overseas
investments and has four subsidiaries:
- CMS Generation Cebu Limited Duration
Company
- CMS Generation Cebu Operating Limited
Duration Company
- CMS Generation Pinamucan Limited Duration
Company
- CMS Generation Pinamucan Operating
Limited Duration Company
CMS Generation Investment Company II
A Cayman Islands corporation engaged as a holding
company for CMS Generation overseas investments.
CMS Generation Investment Company III
A Cayman Islands corporation engaged to
facilitate the construction, ownership and
operation of the GVK Industries Project in
Jegurupadu, Andhra Pratesh, India of a natural
gas/liquid fuel combined cycle plant 235 MW.
CMS Generation Lyonsdale Company
A Michigan corporation involved as a
General Partner in the Lyonsdale Energy
Limited Partnership to develop,
construct, finance and operate a 19
megawatt (net) waste wood-fired electric
generating facility in Lyonsdale, New
York.
CMS Generation Montreal Company
A Michigan corporation involved as a General
Partner in a limited partnership to own and
operate a waste wood recovery facility in the
greater Montreal, Quebec, Canada area.
CMS Generation Mon Valley Company
A Michigan corporation involved as
General Partner in the Mon Valley Energy
Limited Partnership to develop,
construct, finance and operate the Mon
Valley Project, an 80 megawatt (net) coal
fired cogeneration plant in Pennsylvania.
CMS Generation Operating Company
A Michigan corporation involved in the
operation of various power plants
including Genesee, Grayling, Modesto and
Exeter.
CMS Generation Recycling Company
A Michigan corporation involved as a
member of the Dore Recycling Limited
Liability Company.
CMS Generation S.A.
An Argentina corporation formed to carry
out on its own account or that of third
parties investments or capital
contributions in energy-related
businesses located primarily in South
America.
CMS Generation San Nicolas Company
A Michigan corporation involved in a
partnership to operate a power plant in
Argentina.
CMS Operating, S.A.
An Argentina corporation engaged to acquire, own
and operate the Lujan de Cuyo and Crux de Pildra
plants in Argentina.
CMS Resource Development Company
A Michigan corporation formed to pursue
and develop varied power source outside
the United States.
Exeter Management Company
A Connecticut corporation involved as a
General Partner in the Exeter Energy
Limited Partnership which owns and
operates a 26 megawatt (net) tire-burning
facility in Sterling, Connecticut.
HYDRA-CO Enterprises, Inc.
A New York corporation engaged in the ownership
and/or operation, by itself or with others, of
one or more cogeneration, small hydro or
alternate energy production facilities and has 17
subsidiaries:
- HYDRA-CO Operations, Inc., has one
subsidiary:
- HCO-Jamaica, Inc.
- HCE Ameghino, Inc.
- HCE Appomattox, Inc.
- HCE Argentina, Inc.
- HCE Biopower, Inc.
- HCE Dodge Falls, Inc.
- HCE Hazelton, Inc.
- HCE Hudson, Inc.
- HCE Imperial Valley, Inc.
- HCE Irwindale, Inc.
- HCE Jamaica Development, Inc.
- HCE Lakewood, Inc.
- HCE Rockfort Diesel, Inc.
- HYDRA-CO Energy, Inc.
- HYDRA-CO Generation Inc.
- Lakewood Project Management, Inc.
- New Bern Energy Recovery, Inc.
McCook Waste Wood Recovery Facility, L.L.C. (50% member)
A Michigan limited liability company formed to
develop and own a waste wood recycling and
processing facility where waste wood will be
received, manually and mechanically separated and
then recycled or processed for use at McCook
Cogeneration Station, L.L.C.
McCook Cogeneration Station, L.L.C. (50% member)
A Michigan limited liability company formed to
develop and own a 40 megawatt (net) waste wood
fueled electric generating facility located in
the Billage of McCook, Illinois.
Metro East, L.L.C. (50% member)
A Michigan limited liability company formed to
develop and own a 60 megawatt (net) waste wood
and waste coal fueled electric generating
facility located in the City of Madison,
Illinois.
Mid-Michigan Recycling, L.L.C. (50% member)
A Michigan limited liability company involved in
supplying waste wood fuel to power plant
facilities.
New Castle Power, L.L.C. (50% member)
A Michigan limited liability company formed to
develop and own a 100 megawatt (net) petroleum
coke fueled electric generating facility located
at the Port of Wilmington in New Castle County,
Delaware.
Oxford Tire Recycling of Bloomfield, Inc.
A Delaware corporation engaged in the
acquisition, development and ownership of
resource recovery and power generation
facilities that utilize waste fuels.
Oxford Tire Recycling of Massachusetts, Inc.
A Delaware corporation engaged in waste
tire collection, shredding and storage,
the sale of used and shredded tires, and
related business activities.
Oxford Tire Recycling, Inc.
A Delaware corporation engaged in tire
shredding, tire collection, tire disposal
and related business activities. Oxford
Tire Recycling, Inc. has two
subsidiaries:
- Oxford Tire Recycling of Northern
California, Inc.
- Oxford Tire Recycling of Southern
California, Inc.
Oxford Tire Supply, Inc.
A Delaware corporation engaged in
trucking and hauling used scrap tires and
sorting and grading tires for resale.
Texas City Generation, L.L.C. (80% member)
A Michigan limited liability company formed to
develop and own a 400 megawatt (net) petroleum
coke fueled electric generating facility located
in Texas City, Texas.
CMS Land Company
A Michigan corporation formed to act as a
repository for any unused real property formerly
owned by Consumers Power and hold the same for
possible non-utility development and has one
subsidiary:
Bay Harbor Co., L.L.C. (50%)
CMS Utility Services, Inc.
A Michigan corporation engaged in providing
utility-related products and credit management
services. CMS Utility Services, Inc. has one
subsidiary:
CMS A/R Services, Inc.
KJL Limited, Inc.
A Delaware corporation that holds the equity
ownership of aircraft currently leased by
Consumers.
CMS NOMECO Oil & Gas Co.
A Michigan corporation engaged in exploration for
and production of oil and natural gas in Michigan
and other states and countries. NOMECO has
fourteen subsidiaries:
Explotaciones Nomeco, Inc.
NOMECO Australia Pty. Limited
NOMECO China Oil Co.
NOMECO Colombia Oil Company
NOMECO Ecuador Oil Company
NOMECO Equatorial Guinea Oil & Gas Co.
NOMECO Exploration (Thailand) Limited
NOMECO Holdings Ltd.
NOMECO International Ltd.
- NOMECO Argentina LDC
- NOMECO Equador LDC
- NOMECO Venezuela LDC
NOMECO Peru Company
NOMECO Pipeline Company
NOMECO PNG Oil Co.
NOMECO Service Co.
NOMECO Thailand Oil Company
CMS Comercializadora de Energia S.A. (99%)
A Michigan corporation engaged in gas and electric
marketing operations in Argentina.
CMS Gas Marketing Company
A Michigan corporation engaged in the marketing
of gas to eligible customers primarily in
Consumers Power Company's gas service territory.
CMS Gas Transmission and Storage Company
A Michigan corporation organized to engage in the
transmission and storage of natural gas. CMS Gas
Transmission and Storage Company has seven
subsidiaries:
CMS Antrim Gas Company
A Michigan corporation involved as a
Partner in the Antrim Limited Partnership
which was formed to design, construct and
operate the Central Carbon Dioxide
Removal Plant in Otsego County, Michigan.
CMS Grands Lacs Holding Company
A Michigan corporation proposed to be
involved as a Partner in the Grands Lacs
Market Center Limited Partnership.
CMS Gulf Coast Storage Company
A Michigan corporation involved as a
General Partner in the Moss Bluff Gas
Storage Systems General Partnership.
CMS Jackson Pipeline Company
A Michigan corporation involved as a
General Partner in Jackson Pipeline
Company, a Michigan general partnership.
CMS Saginaw Bay Company
A Michigan corporation involved as
Limited Partner in the Saginaw Bay Area
Limited Partnership.
CMS Saginaw Bay Lateral Company
A Michigan corporation which holds
interest in lateral lines off the Saginaw
Bay pipeline system.
CMS Specialty Gas Processors Company
A Michigan corporation involved as a General
Partner in a limited partnership to be involved
in several projects regarding helium recovery or
nitrogen rejection.
Monarch Management Company
A Michigan corporation which houses several
investments whose principal business is the
provision of services to energy and other
regulated entities. Monarch Management Company
has one subsidiary:
CMS ENCOM, Inc.
(c) The consolidated operations of Consumers Power
Company ("Consumers") account for the major share of CMS Energy's total
assets, revenues and income. Consumers has seven subsidiaries. The name,
state of organization and nature of business of Consumers' subsidiaries
are described below:
CMS Engineering Co.
A Michigan corporation engaged in offering
design, engineering, project management and
related construction services to natural gas
utilities, natural gas exploration and production
companies, and other energy businesses.
CMS Midland Holdings Company
A Michigan corporation involved as a holder of a minority
interest in a partnership that leases assets to the MCV
Partnership
CMS Midland, Inc.
A Michigan corporation engaged as a general partner in the
MCV Partnership
ES Services Company
A Michigan corporation formed for the purpose of
offering design, engineering, project management
and related services primarily to electric
utilities and generation facilities.
Huron Hydrocarbons, Inc.
A Michigan corporation formed for the purpose of
participating with others in leasing the
Marysville gas reforming plant underground
storage space and other related activities.
MEC Development Corp.
A Michigan corporation formed as a previous holder of
certain bonds issued in connection with its transfer to
the MCV Partnership of certain assets which comprise a
portion of the MCV facility
Michigan Gas Storage Company
A Michigan corporation engaged in the purchase of
gas from an interstate pipeline supplier, in the
transmission and storage of gas, and in the sale
of gas to Consumers.
2. A brief description of the properties of claimant and each
of its subsidiary public utility companies used for the
generation, transmission and distribution of electric
energy for sale, or for the production, transmission and
distribution of natural or manufactured gas, indicating
the location of principal generating plants, transmission
lines, producing fields, gas manufacturing plants, and
electric and gas distribution facilities, including all
such properties which are outside the State in which
claimant and its subsidiaries are organized and all
transmission or pipelines which deliver or receive
electric energy or gas at the borders of such State.
_________________________________________________________
(a) CMS Energy has no properties used for such
purposes.
(b) Consumers is the only CMS Energy subsidiary which
is a public utility. Its property and facilities used for the above-
described purposes are located within the State of Michigan and are
described below.
(1) Electric Properties
Consumers' electric generation is
supplied by the following plants:
1994 Summer Net 1994 Net
Demonstrated Generation
Name and Location Capability (Thousands of
(Michigan) (Kilowatts) Kilowatt-hours)
Coal Generation
J H Campbell - West Olive 1,346,100(A) 8,270,828
D E Karn - Essexville 515,000 3,153,851
B C Cobb - Muskegon 296,000 1,974,550
J R Whiting - Erie 310,000 2,099,716
J C Weadock - Essexville 310,000 1,901,989
Total 2,777,100 17,400,934
Oil/Gas Generation
D E Karn - Essexville 1,276,000 398,423
Ludington Pumped Storage 954,700(B) (413,644)(C)
Nuclear Generation
Palisades - South Haven 755,000 4,495,232
Big Rock Point - Charlevoix 67,000 408,488
Total 822,000 4,903,720
Gas/Oil Combustion Turbine
Generation 395,300 14,490
Hydro Generation 73,800 480,846
Total Owned Generation 6,298,900 22,784,769
Plus Purchased and Inter-
change Power Capacity 1,107,000(D)
Total 7,405,900
(A) Represents Consumers' share of the capacity of the Campbell Plant
Unit 3 net of 6.69% (ownership interests of the Michigan Public
Power Agency and Wolverine Power Supply Cooperative, Inc.).
(B) Represents Consumers' share of the capacity of the Ludington
pumped storage plant. Consumers and The Detroit Edison Company
("Detroit Edison") have 51% and 49% undivided ownership,
respectively, in the plant, and the capacity of the plant is
shared accordingly.
(C) Represents Consumers' share of net pumped storage generation.
This facility electrically pumps water during off-peak hours for
storage to later generate electricity during peak-demand hours.
(D) Includes 915 MW jurisdictional and does not include 217 MW non-
jurisdictional purchased power capacity from the MCV facility.
Electric transmission, subtransmission and
distribution lines are located on or under public
highways, streets, alleys or lands, except where they are
located on or under easements or other rights. The
transmission system consists of 4,407 structural miles of
overhead lines and 4 sub-surface miles. The
subtransmission system consists of 4,110 structural miles
and 16 sub-surface miles of underground lines. The
distribution system consists of 50,853 structural miles of
overhead lines and 4,991 sub-surface miles of underground
lines.
Consumers owns substations having an aggregate
transformer capacity of 37,766,530 kilovolt amperes.
Consumers is interconnected with certain Michigan
and neighboring utilities. Consumers and Detroit Edison
have formed the Michigan Electric Coordinated Systems
("MECS") to facilitate the coordinated planning and
operation of their electric systems. MECS is
interconnected with electric systems in Indiana, Ohio and
Ontario, Canada. (*)
- -------------------
(*) MECS interconnects with electric systems in Ohio and Ontario, Canada
through Detroit Edison. Detroit Edison interconnects with The Toledo
Edison Company at Majestic-Lemoyne, Monroe-Bayshore and Allen Junction-
Majestic-Monroe. Detroit Edison also interconnects with Ontario Hydro at
Waterman-Keith, Bunce Creek-Scott and two points at St. Clair-Lambton.
Consumers owns or connects with electric
transmission lines which deliver electric energy at or
near the Michigan state border to:
(i) Indiana & Michigan Electric Company
at the following interconnection points:
Palisades-Cook No. 1, Palisades-Cook No. 2,
Argenta-Robinson Park and Argenta-Twin Branch;
and
(ii) Northern Indiana Public Service
Company at the following interconnection point:
Barton Lake-Batavia.
(2) Gas Properties
As of December 31, 1994, Consumers' gas
properties included a gas distribution and
transmission system, compressor stations located
at Consumers' storage fields and along the gas
transmission lines, and the Marysville Gas
reforming plant, located in Marysville, Michigan.
Huron Hydrocarbons, Inc., a wholly owned
Consumers subsidiary, has entered into a
partnership with PanCanadian Petroleum Company to
use the expanded capacity of the underground
caverns at the Marysville plant for commercial
storage of liquid hydrocarbons. In addition,
Consumers and Novacor Hydrocarbons, Inc. were
partners in a partnership to use certain
hydrocarbon fractionation facilities at the
plant. In December 1994, PanCanadian Petroleum
Company purchased Novacor Hydrocarbons' interest
in the fractionation partnership.
Consumers' gas distribution and
transmission systems consist of 21,197 miles of
distribution mains and 1,076 miles of
transmission lines, throughout the Lower
Peninsula of Michigan. Consumers owns and
operates five compressor stations with a total of
116,070 installed horsepower.
Listed below are Consumers' gas storage
fields with an aggregate certified storage
capacity of 242.2 bcf:
Total
Certified Storage
Field Name Location (Michigan) Capacity (bcf)
- ------------ -------------------------- ---------------------
Overisel Allegan and Ottawa Counties 64.0
Salem Allegan and Ottawa Counties 35.0
Ira St. Clair County 7.5
Lenox Macomb County 3.5
Ray Macomb County 66.0
Northville Oakland, Washtenaw &
Wayne Counties 25.8
Puttygut St. Clair County 16.6
Four Corners St. Clair County 3.8
Swan Creek St. Clair County .6
Hessen St. Clair County 18.0
Lyon-34 Oakland County 1.4
Michigan Gas Storage Company ("MGSC")
owns and operates two compressor stations with a
total of 46,600 installed horsepower. Its
transmission system consists of 548 miles of
pipelines within the Lower Peninsula of Michigan.
MGSC's gas storage fields, listed below,
have an aggregate storage capacity of 117 bcf:
Total
Certified Storage
Field Name Location Capacity (bcf)
- -------------- -------------------- --------------------
Winterfield Osceola and Clare Counties 75.0
Cranberry Lake Clare and Missaukee Counties 30.0
Riverside Missaukee County 12.0
Consumers receives natural gas for its
local distribution system through interconnection
facilities located in Michigan and at the
Michigan state border. Consumers received
natural gas at the Michigan state border pursuant
to a sales contract with Trunkline Gas Company
("Trunkline"). The terminus of Trunkline's
pipeline at the Michigan state border is near
Elkhart, Indiana at Town 38, Range 7, Section 11,
Elkhart County, Indiana. The terminus of
Consumers' pipeline at the Michigan state border
is near White Pigeon, Michigan at Town 8 South,
Range 12 West, Section 23, St. Joseph County,
Michigan. During 1994, Consumers purchased
approximately 84% of its required gas supply
under long term contracts. Trunkline, Consumers
primary gas supplier, supplied 35% of the overall
requirement. Consumers supply contract with
Trunkline expired on November 1, 1994. Of
Consumers remaining gas supply requirements
purchased under long term contract, 14% came from
Michigan producers and 35% from various other
producers and non-affiliated marketing companies
in the United States and Canada. The remaining
16% of Consumers 1994 gas supply requirements
were met by purchases on the spot market.
3. The following information for the last calendar year with
respect to claimant and each of its subsidiary public
utility companies:
_________________________________________________________
(a) Number of kWh of electric energy sold (at retail
or wholesale), and Mcf of natural or manufactured gas distributed at
retail.
Consumers sold 34,461,749,182 kWh of electric
energy for the year ended December 31, 1994 and sold 241,176,838 Mcf of
natural gas at retail during the same period.
(b) Number of kWh of electric energy and Mcf of
natural or manufactured gas distributed at retail outside the State of
Michigan.
None.
(c) Number of kWh of electric energy and Mcf of
natural or manufactured gas sold at wholesale outside the State of
Michigan or at the State line of Michigan.
Consumers delivered 138,858,223 kWh of electric
energy across state lines under interchange power agreements for the year
ended December 31, 1994. Consumers sold no natural gas at wholesale
outside the State of Michigan during the same period.
(d) Number of kWh of electric energy and Mcf of
natural or manufactured gas purchased outside the State of Michigan or at
the state line of Michigan.
For the year ended December 31, 1994, Consumers
purchased 3,324,095,000 kWh of electric energy outside the state of
Michigan or at the State line of Michigan.
Consumers purchased 213,957,000 Mcf of natural
gas from outside the State of Michigan from Trunkline, Progas USA, Inc.,
CNG Producing Co., Apache Marketing, Inc., Chevron U.S.A., Inc., Poco
Petroleums, Ltd., Canterra Energy, Ltd., Shell Canada, Ltd., Enron Gas
Marketing, Amoco, Panhandle Trading Co., Norcen Energy Resources, Ltd.,
and other sources during the same period.
4. The following information for the
reporting period with respect to claimant
and each interest it holds directly or
indirectly in an EWG or a foreign utility
company, stating monetary amounts in
United States dollars:
_________________________________________________________
(a) Name, location, business address and description
of the facilities used by the EWG or foreign utility company for the
generation, transmission and distribution of electric energy for sale or
for the distribution at retail of natural or manufactured gas.
As of December 31, 1994, CMS Energy had interests
in four EWGs:
Central Termica San Nicolas, S.A. ("CTSN")
Rivadavia S/N
2900 San Nicolas
Prov. Buenos Aires, Argentina, South America
CTSN, an Argentine corporation, is owner and
operator of a 650 MW power plant located in San Nicolas, Argentina, north
of Buenos Aires, Argentina. The five-unit plant can be fueled by coal,
petroleum coke, oil or natural gas. CTSN sells power at wholesale under
long-term contracts to two utilities and Argentina's electric grid system.
Hidroelectrica El Chocon, S.A. ("El Chocon")
8311 Neuquen
Argentina, South America
El Chocon, an Argentine corporation, holds a
thirty- year concession to operate two hydroelectric power plants located
26 kilometers apart on the Limay River in western Argentina. These plants
have a total generating capacity of 1,320 MW. El Chocon sells power at
wholesale to the developing Argentine Power Pool.
Toledo Power Company ("Toledo Power")
2/F Phelps Dodge Annex Building
2 Pioneer St., Mandaluyong
Metro Manila, Philippines
Toledo Power, a Philippine partnership, is owner
and operator of two power plants totaling 134.5 MW located in Toledo City,
Cebu, Philippines, in the central island group of the Republic of the
Philippines. The plants can be fueled by coal, oil or diesel fuel.
Toledo Power sells power at wholesale to the Philippine electric grid
system and to a local electrical cooperative.
Centrales Termicas Mendoza, S.A. ("Mendoza")
Parque Industrial Provincial
5507 Lujan de Cuyo, Mendoza
Argentina, South America
Mendoza, an Argentine corporation, is owner of
two power plants located in Mendoza, Argentina. These plants have a
nameplate capacity of 411 MW. These plants can be fueled by natural gas,
oil or diesel fuel. Mendoza sells power at wholesale to the Argentine
electric grid system.
(b) Name of each system company that holds an interest in such
EWG or foreign utility company; and description of the interest held.
CTSN
In May 1993, Inversora de San Nicolas, S.A.
purchased an 88% share in CTSN. The remaining 12% interest is held by the
Argentine government on behalf of the facility's employees. As of
December 31, 1994, CMS Generation San Nicolas Company held an 16.3%
indirect ownership interest in CTSN. See Exhibit C.
El Chocon
In July 1993, Hidroinvest, S.A. acquired a 59%
ownership interest in El Chocon. The remaining interest in the project is
held 39% by the Argentine provincial government and 2% by the plant
employees. CMS Generation, S.A. has a 25% ownership interest in
Hidroinvest, S.A. See Exhibit C.
Toledo Power
In July 1994, Toledo Power purchased 100% of the
power plant assets from a mining company. As of December 31, 1994, CMS
Generation Cebu Limited Duration Company held a 32.5% direct interest in
Toledo Power. See Exhibit C.
Mendoza
In November 1994, Cuyana de Inversiones acquired
a 51% ownership interest in Mendoza. The remaining 49% is held 39% by the
Argentine government and 10% by the plant employees. Pursuant to the
official tender documents submitted in connection with this privatization,
CMS Operating, S.A. was to acquire 80% of Cuyana de Inversiones. As of
December 31, 1994, a partnership agreement setting forth CMS Operating,
S.A.'s ownership interest in Cuyana de Inversiones has not been finalized
and since November 1994, CMS Operating, S.A. has funded 100% of the
obligations of Cuyana de Inversiones. See Exhibit C.
(c) Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption; any direct or
indirect guarantee of the security of the EWG or foreign utility company
by the holding company claiming exemption; and any debt or other financial
obligation for which there is recourse, directly or indirectly, to the
holding company claiming exemption or another system company, other than
the EWG or foreign utility company.
CTSN
As of December 31, 1994, CMS Generation San
Nicolas Company has invested approximately $22 million of equity in CTSN,
and advanced approximately $9 million of loans. CMS Energy has guaranteed
$2.4 million of reimbursement obligations of CMS Generation San Nicolas
Company under certain letters of credit issued by The Chase Manhattan Bank
(National Association).
El Chocon
As of December 31, 1994, CMS Generation, S.A. has
invested approximately $47 million of equity in, and advanced
approximately $21 million of loans to, El Chocon. CMS Generation, S.A.
was a co-applicant for certain letters of credit required in connection
with the acquisition of the concession, and CMS Energy has guaranteed up
to approximately $15 million of reimbursement obligations relating to
these letters of credit. CMS Energy has also guaranteed on behalf of El
Chocon approximately $14 million in connection with the Guaranteed
Indebtedness Credit Agreement dated as of December 15, 1993 between El
Chocon and The Chase Manhattan Bank (National Association).
Toledo Power
As of December 31, 1994, CMS Generation Cebu
Limited Duration Company and CMS Generation Cebu Operating Limited
Duration Company has invested approximately $9 million of equity in Toledo
Power.
Mendoza
As of December 31, 1994, CMS Operating, S.A. has
invested approximately $10 million of equity and $2 million of loans to
Mendoza. CMS Generation Co. has loaned approximately $8 million to
Mendoza.
(d) Capitalization and earnings of the EWG or foreign
utility company during the reporting period.
CTSN:
000s
--------
Capitalization at 12/31/94
Bank Loans $ 37,885
Long Term Debt (Partners Loans) $ 50,872
Shareholders' Equity 74,538
--------
Total Capitalization $163,295
========
Net Income for the period ended 12/31/94 $ 1,687
========
El Chocon:
000s
--------
Capitalization at 12/31/94
Bank Loans $245,521
Shareholders' Equity 406,816
--------
Total Capitalization $652,337
========
Net Income for the period ended 12/31/94 $ 18,944
========
Toledo Power
000s
--------
Capitalization at 12/31/94
Shareholders' Equity $58,956
=======
Net Loss for the period ended 12/31/94 $ (669)
=======
Mendoza
000s
--------
Capitalization at 12/31/94
CMS Loans $10,161
Long Term Debt (YPF) $23,049
Shareholders Equity $19,195
-------
$52,405
=======
Net Loss for the period ended Dec.31,1994 $ (556)
=======
(e) Identify any service, sales or construction
contracts(s) between the EWG or foreign utility company and a system
company, and describe the services to be rendered or goods sold and fees
or revenues under such agreement(s).
There are no service, sales or construction
contracts between either CTSN, El Chocon, Toledo Power or Mendoza and any
system company.
The above-named claimant has caused this
statement to be duly executed on its behalf by its authorized officer on
this 27th day of February, 1995.
CMS ENERGY CORPORATION, a
Michigan corporation
[CORPORATE SEAL] By /s/ S. Kinnie Smith
--------------------------
S. Kinnie Smith, Jr.
Vice Chairman and
General Counsel
ATTEST:
/s/ Thomas A. McNish
- --------------------------
Thomas A. McNish
Secretary and Treasurer
Name, title, and address of officer to whom notices and correspondence
concerning this Statement should be addressed:
Thomas A. McNish
Secretary and Treasurer
CMS Energy Corporation
Fairlane Plaza South
Suite 1100
330 Town Center Drive
Dearborn, Michigan 48126
<PAGE>
<PAGE>
EXHIBIT A
<TABLE>
A consolidating statement of income and surplus of CMS Energy and its subsidiary companies for the last calendar
year, together with a consolidating balance sheet of CMS Energy and its subsidiary companies as of the close of such
calendar year is attached.
CMS ENERGY CORPORATION
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions, except Per Share Amounts)
<CAPTION>
Consumers CMS Inter-
Power Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Operating Revenue
Electric utility $ - $2,189 $ - $ - $2,189
Gas utility - 1,151 - - 1,151
Oil and gas exploration
and production - - 86 (1) 85
Independent power production - 15 30 - 45
Natural gas pipeline, storage
and marketing - - 148 (3) 145
Other - 1 6 (3) 4
-------------------------------------------------------------------
Total operating revenue - 3,356 270 (7) 3,619
-------------------------------------------------------------------
Operating Expenses
Fuel for electric generation - 306 - - 306
Purchased power -
related parties - 482 - - 482
Purchased and interchange
power - 162 - - 162
Cost of gas sold - 662 127 (4) 785
Other operation expense (1) 560 69 (3) 625
Maintenance - 188 4 - 192
Depreciation, depletion
and amortization - 335 44 - 379
General taxes - 178 6 - 184
-------------------------------------------------------------------
Total operating expenses (1) 2,873 250 (7) 3,115
-------------------------------------------------------------------
Pretax Operating Income 1 483 20 - 504
-------------------------------------------------------------------
Income Taxes (14) 120 (2) - 104
-------------------------------------------------------------------
Net Operating Income 15 363 22 - 400
-------------------------------------------------------------------
Other Income (Deductions)
Dividends from affiliates - 17 1 (18) -
Accretion income - 13 - - 13
Accretion expense - (35) - - (35)
Other income taxes, net - 13 (1) - 12
Other, net 215 6 7 (210) 18
-------------------------------------------------------------------
Total other income
(deductions) 215 14 7 (228) 8
-------------------------------------------------------------------
Fixed Charges
Interest on long-term debt 47 135 11 - 193
Other interest - 17 2 (1) 18
Capitalized interest - (1) (5) - (6)
Preferred dividends - 24 14 (14) 24
-------------------------------------------------------------------
Net fixed charges 47 175 22 (15) 229
-------------------------------------------------------------------
Net Income (Loss) before
Common Stock Dividends 183 202 7 (213) 179
Dividends on Common Stock 71 - - (4) 67
-------------------------------------------------------------------
Net Income (Loss) after
Common Stock Dividends $ 112 $ 202 $ 7 $ (209) $ 112
===================================================================
Average Number of Common Shares Outstanding 85,888
Earnings Per Average Common Share $ 2.09
<FN>
(1) Represents CMS Energy Corporation with Consumers Power Company and CMS Enterprises Company included on the equity
method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CONSUMERS POWER COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Power Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Electric $2,189 $ - $ - $ - $ - $ - $2,189
Gas 1,149 19 - - - (17) 1,151
Other - - 1 6 9 - 16
--------------------------------------------------------------------------------
Total operating revenue 3,338 19 1 6 9 (17) 3,356
--------------------------------------------------------------------------------
Operating Expenses
Fuel for electric generation 306 - - - - - 306
Purchased power -
related parties 482 - - - - - 482
Purchased and interchange
power 162 - - - - - 162
Cost of gas sold 679 - - - - (17) 662
Other operation expense 550 9 - - 1 - 560
Maintenance 185 3 - - - - 188
Depreciation, depletion
and amortization 333 1 - - 1 - 335
General taxes 176 2 - - - - 178
--------------------------------------------------------------------------------
Total operating expenses 2,873 15 - - 2 (17) 2,873
--------------------------------------------------------------------------------
Pretax Operating Income 465 4 1 6 7 - 483
--------------------------------------------------------------------------------
Income Taxes 119 1 - - - - 120
--------------------------------------------------------------------------------
Net Operating Income 346 3 1 6 7 - 363
--------------------------------------------------------------------------------
Other Income (Deductions)
Dividends from affiliates 17 - - - - - 17
Accretion income 13 - - - - - 13
Accretion expense (35) - - - - - (35)
Other income taxes, net 13 - - - - - 13
Other, net 23 1 - - (1) (17) 6
--------------------------------------------------------------------------------
Total other income
(deductions) 31 1 - - (1) (17) 14
--------------------------------------------------------------------------------
Interest Charges
Interest on long-term debt 135 - - - - - 135
Other interest 17 1 - - - (1) 17
Capitalized interest (1) - - - - - (1)
--------------------------------------------------------------------------------
Net interest charges 151 1 - - - (1) 151
--------------------------------------------------------------------------------
Net Income (Loss) 226 3 1 6 6 (16) 226
Preferred Stock Dividends 24 - - - - - 24
--------------------------------------------------------------------------------
Net Income (Loss) after
Dividends on Preferred Stock $ 202 $ 3 $ 1 $ 6 $ 6 $ (16) $ 202
================================================================================
<FN>
(2) Represents Consumers Power Company, CMS Engineering Company, Midland Group, Ltd. and ES Services Company
consolidated with Michigan Gas Storage Company and Huron Hydrocarbons, Inc. included on the equity method of
accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
<CAPTION>
CMS NOMECO CMS CMS
CMS Oil and Generation Utility CMS CMS Gas CMS Gas
Enterprises Gas Co. Co. Services Land Marketing Transmission
Company(3) Consol. Consol. Inc. Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ 86 $ - $ - $ - $ - $ -
Independent power production - - 30 - - - -
Natural gas pipeline, storage
and marketing - - - - - 136 16
Other - - - 7 2 - -
--------------------------------------------------------------------------------
Total operating revenue - 86 30 7 2 136 16
--------------------------------------------------------------------------------
Operating Expenses
Cost of gas sold - - - - - 131 -
Other operation expense 2 30 22 6 - 3 6
Maintenance - 4 - - - - -
Depreciation, depletion
and amortization - 40 1 1 - - 2
General taxes 1 4 - - - - 1
--------------------------------------------------------------------------------
Total operating expenses 3 78 23 7 - 134 9
--------------------------------------------------------------------------------
Pretax Operating Income (3) 8 7 - 2 2 7
--------------------------------------------------------------------------------
Income Taxes (1) (6) 2 - 1 1 2
--------------------------------------------------------------------------------
Net Operating Income (2) 14 5 - 1 1 5
--------------------------------------------------------------------------------
Other Income (Deductions)
Dividends from affiliates 1 - - - - - -
Other income taxes, net - - (1) - - - -
Other, net 22 - 3 1 - - 1
--------------------------------------------------------------------------------
Total other income
(deductions) 23 - 2 1 - - 1
--------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - 9 - - - - 2
Other interest - - 3 - - - -
Capitalized interest - (5) - - - - -
Preferred dividends 14 - - - - - -
--------------------------------------------------------------------------------
Net fixed charges 14 4 3 - - - 2
--------------------------------------------------------------------------------
Net Income (Loss) $ 7 $ 10 $ 4 $ 1 $ 1 $ 1 $ 4
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Monarch Inter- CMS
Manage- company Enterprises
ment Elimina- Company
Company tions Consol.
<S> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ - $ 86
Independent power production - - 30
Natural gas pipeline, storage
and marketing - (4) 148
Other (3) - 6
--------------------------------
Total operating revenue (3) (4) 270
--------------------------------
Operating Expenses
Cost of gas sold - (4) 127
Other operation expense - - 69
Maintenance - - 4
Depreciation, depletion
and amortization - - 44
General taxes - - 6
--------------------------------
Total operating expenses - (4) 250
--------------------------------
Pretax Operating Income (3) - 20
--------------------------------
Income Taxes (1) - (2)
--------------------------------
Net Operating Income (2) - 22
--------------------------------
Other Income (Deductions)
Dividends from affiliates - - 1
Other income taxes, net - - (1)
Other, net 1 (21) 7
--------------------------------
Total other income
(deductions) 1 (21) 7
--------------------------------
Fixed Charges
Interest on long-term debt - - 11
Other interest - (1) 2
Capitalized interest - - (5)
Preferred dividends - - 14
--------------------------------
Net fixed charges - (1) 22
--------------------------------
Net Income (Loss) $ (1) $ (20) $ 7
================================
<FN>
(3) Represents CMS Enterprises Company, CMS Capital Corporation and KJL Limited, Inc. with CMS NOMECO Oil and Gas
Company, CMS Generation Company, CMS Utility Services, Inc., CMS Land Company, CMS Gas Marketing Company, CMS Gas
Transmission Company and Monarch Management Company included on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
<CAPTION>
NOMECO
CMS NOMECO Equatorial NOMECO
NOMECO NOMECO Exploration NOMECO Guinea NOMECO Colombia
Oil and Gas Australia (Thailand) PNG Oil Oil & Gas Holdings Oil
Company(4) Pty. Ltd. Limited Co. Co. Ltd. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ 66 $ 1 $ - $ - $ 5 $ 4 $ 3
Other - - - - - - -
--------------------------------------------------------------------------------
Total operating revenue 66 1 - - 5 4 3
--------------------------------------------------------------------------------
Operating Expenses
Cost of products sold - 1 - - - - -
Other operation expense 22 - - - 1 1 2
Maintenance 3 - - - 1 - -
Depreciation, depletion
and amortization 29 - 4 1 1 2 1
General taxes 4 - - - - - -
--------------------------------------------------------------------------------
Total operating expenses 58 1 4 1 3 3 3
--------------------------------------------------------------------------------
Pretax Operating Income 8 - (4) (1) 2 1 -
--------------------------------------------------------------------------------
Income Taxes (7) - - - - - -
--------------------------------------------------------------------------------
Net Operating Income 15 - (4) (1) 2 1 -
--------------------------------------------------------------------------------
Other Income (Deductions)
Other income taxes, net - - - - - - -
Other, net (1) - - - - - -
--------------------------------------------------------------------------------
Total other income
(deductions) (1) - - - - - -
--------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt 9 - - - - - -
Other interest - - - - 1 - -
Capitalized interest (5) - - - - - -
--------------------------------------------------------------------------------
Net fixed charges 4 - - - 1 - -
--------------------------------------------------------------------------------
Net Income (Loss) $ 10 $ - $ (4) $ (1) $ 1 $ 1 $ -
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
NOMECO Explota- Inter- CMS NOMECO
Inter- NOMECO ciones company Oil and Gas
national Ecuador Nomeco Elimina- Company
Ltd. LDC Inc. tions Consol.
<S> <C> <C> <C> <C> <C>
Operating Revenue
Oil and gas exploration
and production $ - $ 5 $ 2 $ - $ 86
Other - - - - -
--------------------------------------------------------
Total operating revenue - 5 2 - 86
--------------------------------------------------------
Operating Expenses
Cost of products sold - - - - 1
Other operation expense - 2 1 - 29
Maintenance - - - - 4
Depreciation, depletion
and amortization - 2 - - 40
General taxes - - - - 4
--------------------------------------------------------
Total operating expenses - 4 1 - 78
--------------------------------------------------------
Pretax Operating Income - 1 1 - 8
--------------------------------------------------------
Income Taxes - - 1 - (6)
--------------------------------------------------------
Net Operating Income - 1 - - 14
--------------------------------------------------------
Other Income (Deductions)
Other income taxes, net - - - - -
Other, net - - - 1 -
--------------------------------------------------------
Total other income
(deductions) - - - 1 -
--------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - 9
Other interest 2 - - (3) -
Capitalized interest - - - - (5)
--------------------------------------------------------
Net fixed charges 2 - - (3) 4
--------------------------------------------------------
Net Income (Loss) $ (2) $ 1 $ - $ 4 $ 10
========================================================
<FN>
(4) Represents CMS NOMECO Oil and Gas Company, NOMECO China Oil Company, NOMECO Thailand Oil Company, NOMECO Pipeline
Company, NOMECO Venezuela LDC and NOMECO Argentina LDC consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
<CAPTION>
CMSG CMSG CMSG Oxford
CMS Honey Filer CMSG Grayling CMSG Tire
Generation Lake City Grayling Holdings Operating Supply
Co.(5) Company Inc. Company Company Company Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ 4 $ 5 $ 4 $ - $ 2 $ 1 $ 5
Other - - - - - - -
--------------------------------------------------------------------------------
Total operating revenue 4 5 4 - 2 1 5
--------------------------------------------------------------------------------
Operating Expenses
Other operation expense 10 - - - - 1 5
Depreciation, depletion
and amortization 1 - - - - - -
General taxes - - - - - - -
--------------------------------------------------------------------------------
Total operating expenses 11 - - - - 1 5
--------------------------------------------------------------------------------
Pretax Operating Income (7) 5 4 - 2 - -
--------------------------------------------------------------------------------
Income Taxes (2) 2 1 - 1 - -
--------------------------------------------------------------------------------
Net Operating Income (5) 3 3 - 1 - -
--------------------------------------------------------------------------------
Other Income (Deductions)
Other income taxes, net (1) - - - - - -
Other, net 13 - - 1 - - -
--------------------------------------------------------------------------------
Total other income
(deductions) 12 - - 1 - - -
--------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest 3 - - 1 - - -
--------------------------------------------------------------------------------
Net fixed charges 3 - - 1 - - -
--------------------------------------------------------------------------------
Net Income (Loss) $ 4 $ 3 $ 3 $ - $ 1 $ - $ -
================================================================================
<FN>
(Continued on Following Page)
/TABLE
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Income
For the Year Ended December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Mid- OTR Inter- CMS
CMSG CMS San Michigan Northern company Generation
Holding Generation Nicolas Recycling California Elimina- Company
Company S.A. Company L.L.C. Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Operating Revenue
Independent power production $ (1) $ 3 $ 1 $ 1 $ 5 $ - $ 30
Other - - - - - - -
--------------------------------------------------------------------------------
Total operating revenue (1) 3 1 1 5 - 30
--------------------------------------------------------------------------------
Operating Expenses
Other operation expense - - - 1 5 - 22
Depreciation, depletion
and amortization - - - - - - 1
General taxes - - - - - - -
--------------------------------------------------------------------------------
Total operating expenses - - - 1 5 - 23
--------------------------------------------------------------------------------
Pretax Operating Income (1) 3 1 - - - 7
--------------------------------------------------------------------------------
Income Taxes - - - - - - 2
--------------------------------------------------------------------------------
Net Operating Income (1) 3 1 - - - 5
--------------------------------------------------------------------------------
Other Income (Deductions)
Other income taxes, net - - - - - - (1)
Other, net - - - - - (11) 3
--------------------------------------------------------------------------------
Total other income
(deductions) - - - - - (11) 2
--------------------------------------------------------------------------------
Fixed Charges
Interest on long-term debt - - - - - - -
Other interest - - - - - (1) 3
--------------------------------------------------------------------------------
Net fixed charges - - - - - (1) 3
--------------------------------------------------------------------------------
Net Income (Loss) $ (1) $ 3 $ 1 $ - $ - $ (10) $ 4
================================================================================
<FN>
(5) Represents CMS Generation Company, CMSG Filer City Operating Company, CMS Midland II, CMS Resource Development
Company, CMSG Genesee Company, CMSG Recycling Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Mon
Valley Company, CMSG Investment Company I, CMSG Investment Company II, CMSG Pinamucan LDC, CMSG Cebu LDC, CMSG
Cebu Operating LDC Company, CMSG Montreal Company, CMSG Operating S.A., OTR Southern California, Inc., OTR of
Bloomfield, Inc. and Oxford/CMS Development L.P. consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
<CAPTION>
Consumers CMS Inter-
Power Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Electric $ - $5,771 $ - $ - $5,771
Gas - 2,064 38 - 2,102
Oil and gas properties - - 934 - 934
Other 12 30 37 (6) 73
--------------------------------------------------------
12 7,865 1,009 (6) 8,880
Less accumulated depreciation,
depletion and amortization 2 3,794 503 - 4,299
--------------------------------------------------------
10 4,071 506 (6) 4,581
Construction work-in-progress - 241 4 - 245
--------------------------------------------------------
10 4,312 510 (6) 4,826
--------------------------------------------------------
Investments
Associated companies 1,800 317 45 (2,162) -
First Midland Limited
Partnership - 218 - - 218
Independent power production - - 151 - 151
Midland Cogeneration
Venture - 74 - - 74
Other - 8 48 - 56
--------------------------------------------------------
1,800 617 244 (2,162) 499
--------------------------------------------------------
Current Assets
Cash and temporary cash
investments 41 25 13 - 79
Accounts receivable (5) (71) 55 (22) (43)
Accrued revenues - 183 14 - 197
Inventories to average cost
Gas in underground storage - 235 - - 235
Materials and supplies - 75 - - 75
Generating plant fuel
stock - 37 - - 37
Deferred income taxes (1) 35 - - 34
Trunkline settlement - 30 - - 30
Prepayments and other 15 168 3 - 186
--------------------------------------------------------
50 717 85 (22) 830
--------------------------------------------------------
Non-current Assets
Postretirement benefits 6 478 - - 484
Abandoned Midland project - 147 - - 147
Nuclear decommissioning
trust funds - 213 - - 213
Trunkline settlement - 55 - - 55
Other 11 270 61 (12) 330
--------------------------------------------------------
17 1,163 61 (12) 1,229
--------------------------------------------------------
Total Assets $1,877 $6,809 $ 900 $(2,202) $7,384
========================================================
<FN>
(1) Represents CMS Energy Corporation and CMS Merging Corporation consolidated with Consumers Power Company and CMS
Enterprises Company included on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
<CAPTION>
Consumers CMS Inter-
Power Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 1 $ 841 $ - $ (841) $ 1
Other paid-in-capital 1,813 491 480 (1,083) 1,701
Revaluation capital - 15 14 (29) -
Retained earnings (595) 80 (120) 40 (595)
--------------------------------------------------------
1,219 1,427 374 (1,913) 1,107
Preferred stock - 356 249 (249) 356
Long-term debt 620 1,953 146 (10) 2,709
Non-current capital leases - 108 - - 108
--------------------------------------------------------
1,839 3,844 769 (2,172) 4,280
--------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - 9 12 - 21
Current capital leases 7 36 - - 43
Notes payable 6 339 - (6) 339
Accounts payable 1 165 31 (4) 193
Accounts payable - related
parties 5 51 2 (8) 50
MCV power purchases -
settlement - 95 - - 95
Accrued interest 2 37 5 (4) 40
Accrued taxes 36 173 8 - 217
Accrued refunds - 25 - - 25
Other 1 187 12 (2) 198
--------------------------------------------------------
58 1,117 70 (24) 1,221
--------------------------------------------------------
Non-current Liabilities
Postretirement benefits 9 532 9 - 550
MCV power purchases -
settlement - 324 - - 324
Deferred income taxes (29) 568 43 - 582
Deferred investment tax credit - 179 2 - 181
Trunkline settlement - 55 - - 55
Regulatory liabilities, net - 16 - - 16
Other - 174 7 (6) 175
--------------------------------------------------------
(20) 1,848 61 (6) 1,883
--------------------------------------------------------
Total Stockholders' Equity
and Liabilities $1,877 $6,809 $ 900 $(2,202) $7,384
========================================================
<FN>
(1) Represents CMS Energy Corporation and CMS Merging Corporation consolidated with Consumers Power Company and CMS
Enterprises Company included on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CONSUMERS POWER COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Power Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Electric $5,771 $ - $ - $ - $ - $ - $5,771
Gas 1,966 98 - - - - 2,064
Other 30 - - - - - 30
--------------------------------------------------------------------------------
7,767 98 - - - - 7,865
Less accumulated depreciation,
depletion and amortization 3,743 51 - - - - 3,794
--------------------------------------------------------------------------------
4,024 47 - - - - 4,071
Construction work-in-progress 238 3 - - - - 241
--------------------------------------------------------------------------------
4,262 50 - - - - 4,312
--------------------------------------------------------------------------------
Investments
Associated companies 567 - - - - (250) 317
First Midland Limited
Partnership - - - 218 - - 218
Midland Cogeneration
Venture - - - - 74 - 74
Other - - 8 - - - 8
--------------------------------------------------------------------------------
567 - 8 218 74 (250) 617
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments 22 2 - 1 - - 25
Accounts receivable (60) 2 - 1 10 (24) (71)
Accrued revenues 183 - - - - - 183
Inventories to average cost
Gas in underground storage 235 - - - - - 235
Materials and supplies 75 - - - - - 75
Generating plant fuel
stock 37 - - - - - 37
Deferred income taxes 35 - - - - - 35
Trunkline settlement 30 - - - - - 30
Postretirement benefits 25 - - - - - 25
Prepayments and other 143 - - - - - 143
--------------------------------------------------------------------------------
725 4 - 2 10 (24) 717
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits 472 6 - - - - 478
Abandoned Midland project 147 - - - - - 147
Nuclear decommissioning
trust funds 213 - - - - - 213
Trunkline settlement 55 - - - - - 55
Other 257 3 - 10 - - 270
--------------------------------------------------------------------------------
1,144 9 - 10 - - 1,163
--------------------------------------------------------------------------------
Total Assets $6,698 $ 63 $ 8 $ 230 $ 84 $ (274) $6,809
================================================================================
<FN>
(2) Represents Consumers Power Company, CMS Engineering Company, ES Services Company, Midland Group, Inc. and MEC
Development Corporation consolidated with Michigan Gas Storage Company and Huron Hydrocarbons, Inc. included on
the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CONSUMERS POWER COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Power Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 841 $ 15 $ - $ - $ - $ (15) $ 841
Other paid-in-capital 491 5 3 81 125 (214) 491
Revaluation capital 15 - - - - - 15
Retained earnings 80 18 2 18 (17) (21) 80
--------------------------------------------------------------------------------
1,427 38 5 99 108 (250) 1,427
Preferred stock 356 - - - - - 356
Long-term debt 1,953 - - - - - 1,953
Non-current capital leases 108 - - - - - 108
--------------------------------------------------------------------------------
3,844 38 5 99 108 (250) 3,844
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt 9 - - - - - 9
Current capital leases 36 - - - - - 36
Notes payable 349 11 - - - (21) 339
Accounts payable 164 2 - - - (1) 165
Accounts payable - related
parties 52 1 - - - (2) 51
MCV power purchases -
settlement 95 - - - - - 95
Accrued interest 37 - - - - - 37
Accrued taxes 198 1 - (25) (1) - 173
Accrued refunds 25 - - - - - 25
Other 186 1 - - - - 187
--------------------------------------------------------------------------------
1,151 16 - (25) (1) (24) 1,117
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 526 6 - - - - 532
MCV power purchases -
settlement 324 - - - - - 324
Deferred income taxes 467 1 2 122 (24) - 568
Deferred investment tax credit 143 - 1 34 1 - 179
Trunkline settlement 55 - - - - - 55
Regulatory liabilities, net 16 - - - - - 16
Other 172 2 - - - - 174
--------------------------------------------------------------------------------
1,703 9 3 156 (23) - 1,848
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $6,698 $ 63 $ 8 $ 230 $ 84 $ (274) $6,809
================================================================================
<FN>
(2) Represents Consumers Power Company, CMS Engineering Company, ES Services Company, Midland Group, Inc. and MEC
Development Corporation consolidated with Michigan Gas Storage Company and Huron Hydrocarbons, Inc. included on
the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
<CAPTION>
CMS NOMECO CMS CMS
CMS Oil and Generation Utility CMS CMS Gas CMS Gas
Enterprises Gas Co. Co. Services Land Marketing Transmission
Company(3) Consol. Consol. Inc. Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Gas $ - $ - $ - $ - $ - $ - $ 38
Oil and gas properties - 934 - - - - -
Other - - 19 4 14 - -
--------------------------------------------------------------------------------
- 934 19 4 14 - 38
Less accumulated depreciation,
depletion and amortization - 496 - 3 - - 4
--------------------------------------------------------------------------------
- 438 19 1 14 - 34
Construction work-in-progress - - - - - - 4
--------------------------------------------------------------------------------
- 438 19 1 14 - 38
--------------------------------------------------------------------------------
Investments
Associated companies 625 - - - - - -
Independent power production - - 151 - - - -
Other - 2 - - 6 - 40
--------------------------------------------------------------------------------
625 2 151 - 6 - 40
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments - 6 2 1 - 2 1
Accounts receivable 2 2 26 3 1 16 6
Accrued revenues - 14 - - - - -
Prepayments and other - 1 - - - 1 1
--------------------------------------------------------------------------------
2 23 28 4 1 19 8
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - - -
Other 1 10 44 - - - 6
--------------------------------------------------------------------------------
1 10 44 - - - 6
--------------------------------------------------------------------------------
Total Assets $ 628 $ 473 $ 242 $ 5 $ 21 $ 19 $ 92
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
CMS company Enterprises
Capital Elimina- Company
Corp. tions Consol.
<S> <C> <C> <C>
Plant and Property (At Cost)
Gas $ - $ - $ 38
Oil and gas properties - - 934
Other - - 37
-------------------------------
- - 1,009
Less accumulated depreciation,
depletion and amortization - - 503
-------------------------------
- - 506
Construction work-in-progress - - 4
-------------------------------
- - 510
-------------------------------
Investments
Associated companies - (580) 45
Independent power production - - 151
Other - - 48
-------------------------------
- (580) 244
-------------------------------
Current Assets
Cash and temporary cash
investments 1 - 13
Accounts receivable 8 (9) 55
Accrued revenues - - 14
Prepayments and other - - 3
-------------------------------
9 (9) 85
-------------------------------
Non-current Assets
Postretirement benefits - - -
Other - - 61
-------------------------------
- - 61
-------------------------------
Total Assets $ 9 $ (589) $ 900
===============================
<FN>
(3) Represents CMS Enterprises Company, KJL Limited, Inc. and Monarch Management Company with CMS NOMECO Oil and Gas
Company, CMS Generation Company, CMS Utility Services, Inc., CMS Land Company, CMS Capital Corporation, CMS Gas
Marketing Company and CMS Gas Transmission Company included on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
<CAPTION>
CMS NOMECO CMS CMS
CMS Oil and Generation Utility CMS CMS Gas CMS Gas
Enterprises Gas Co. Co. Services Land Marketing Transmission
Company(3) Consol. Consol. Inc. Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ 15 $ - $ - $ - $ - $ -
Other paid-in-capital 480 122 288 5 4 3 53
Revaluation capital 14 - - - - - -
Retained earnings (120) 152 (74) (2) 1 2 5
--------------------------------------------------------------------------------
374 289 214 3 5 5 58
Preferred stock 249 - - - - - -
Long-term debt - 119 1 - 10 - 16
--------------------------------------------------------------------------------
623 408 215 3 15 5 74
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - 10 - - - - 2
Notes payable 2 - 1 - - - 1
Accounts payable - 4 5 1 - 13 9
Accounts payable - related
parties 1 - 1 - - 1 -
Accrued interest - 1 2 - 2 - -
Accrued taxes 1 2 3 - 1 - 1
Other 5 1 5 1 - - -
--------------------------------------------------------------------------------
9 18 17 2 3 14 13
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 1 4 2 1 - - 1
Deferred income taxes (5) 42 4 (1) 1 - 3
Deferred investment tax credit - - 2 - - - -
Other - 1 2 - 2 - 1
--------------------------------------------------------------------------------
(4) 47 10 - 3 - 5
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 628 $ 473 $ 242 $ 5 $ 21 $ 19 $ 92
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Monarch Inter- CMS
CMS Manage- company Enterprises
Capital ment Elimina- Company
Corp. Company tions Consol.
<S> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ (15) $ -
Other paid-in-capital 7 2 (484) 480
Revaluation capital - - - 14
Retained earnings (1) (2) (81) (120)
--------------------------------------------
6 - (580) 374
Preferred stock - - - 249
Long-term debt - - - 146
--------------------------------------------
6 - (580) 769
--------------------------------------------
Current Liabilities
Current portion of long-term
debt - - - 12
Notes payable 3 - (7) -
Accounts payable - - (1) 31
Accounts payable - related
parties - - (1) 2
Accrued interest - - - 5
Accrued taxes - - - 8
Other - - - 12
--------------------------------------------
3 - (9) 70
--------------------------------------------
Non-current Liabilities
Postretirement benefits - - - 9
Deferred income taxes - (1) - 43
Deferred investment tax credit - - - 2
Other - 1 - 7
--------------------------------------------
- - - 61
--------------------------------------------
Total Stockholders' Equity
and Liabilities $ 9 $ - $ (589) $ 900
============================================
<FN>
(3) Represents CMS Enterprises Company and KJL Limited, Inc. with CMS NOMECO Oil and Gas Company, CMS Generation
Company, CMS Utility Services, Inc., CMS Land Company, CMS Capital Corporation, CMS Gas Marketing Company, CMS Gas
Transmission Company and Monarch Management Company included on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
<CAPTION>
Explota- NOMECO NOMECO
CMS NOMECO NOMECO ciones Inter- NOMECO Thailand NOMECO
Oil and Gas Australia Nomeco national Ecuador Oil Pipeline
Company(4) Pty. Ltd. Inc. Ltd. LDC Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ 770 $ 1 $ 25 $ - $ 98 $ - $ -
Other - - - - - - -
--------------------------------------------------------------------------------
770 1 25 - 98 - -
Less accumulated depreciation,
depletion and amortization 478 - - - 2 - -
--------------------------------------------------------------------------------
292 1 25 - 96 - -
Construction work-in-progress - - - - - - -
--------------------------------------------------------------------------------
292 1 25 - 96 - -
--------------------------------------------------------------------------------
Investments
Associated companies 77 - - 98 - - -
Other - 2 - - - - -
--------------------------------------------------------------------------------
77 2 - 98 - - -
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments 5 - 1 - - - -
Accounts receivable 86 - - - - - -
Accrued revenues 8 - 1 - 3 - -
Prepayments and other - - - - - - -
--------------------------------------------------------------------------------
99 - 2 - 3 - -
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - - -
Other 10 - - - - - -
--------------------------------------------------------------------------------
10 - - - - - -
--------------------------------------------------------------------------------
Total Assets $ 478 $ 3 $ 27 $ 98 $ 99 $ - $ -
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
NOMECO
Equatorial NOMECO NOMECO
NOMECO NOMECO Guinea Exploration NOMECO Colombia
PNG Oil China Oil Oil & Gas (Thailand) Holdings Oil
Co. Company Co. Ltd. Ltd. Company
<S> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ 4 $ - $ 12 $ 1 $ 15 $ 8
Other - - - - - -
--------------------------------------------------------------------
4 - 12 1 15 8
Less accumulated depreciation,
depletion and amortization 1 - 2 1 5 7
--------------------------------------------------------------------
3 - 10 - 10 1
Construction work-in-progress - - - - - -
--------------------------------------------------------------------
3 - 10 - 10 1
--------------------------------------------------------------------
Investments
Associated companies - - - - 1 -
Other - - - - - -
--------------------------------------------------------------------
- - - - 1 -
--------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments - - - - - -
Accounts receivable 1 1 1 - 1 6
Accrued revenues - - 1 - - 1
Prepayments and other - - 1 - - -
--------------------------------------------------------------------
1 1 3 - 1 7
--------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - -
Other - - - - - -
--------------------------------------------------------------------
- - - - - -
--------------------------------------------------------------------
Total Assets $ 4 $ 1 $ 13 $ - $ 12 $ 8
--------------------------------------------------------------------
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS NOMECO
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Plant and Property (At Cost)
Oil and gas properties $ - $ 934
Other - -
-------------------
- 934
Less accumulated depreciation,
depletion and amortization - 496
-------------------
- 438
Construction work-in-progress - -
-------------------
- 438
-------------------
Investments
Associated companies (176) -
Other - 2
-------------------
(176) 2
-------------------
Current Assets
Cash and temporary cash
investments - 6
Accounts receivable (94) 2
Accrued revenues - 14
Prepayments and other - 1
-------------------
(94) 23
-------------------
Non-current Assets
Postretirement benefits - -
Other - 10
-------------------
- 10
-------------------
Total Assets $ (270) $ 473
===================
<FN>
(4) Represents CMS NOMECO Oil and Gas Company, NOMECO Venezuela LDC and NOMECO Argentina LDC consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
<CAPTION>
Explota- NOMECO NOMECO
CMS NOMECO NOMECO ciones Thailand NOMECO Inter- NOMECO
Oil and Gas Australia Nomeco Oil Ecuador national Pipeline
Company(4) Pty. Ltd. Inc. Company LDC Ltd. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ 15 $ - $ - $ - $ - $ 1 $ -
Other paid-in-capital 122 - 26 - 98 31 -
Retained earnings 152 1 - - 1 (2) -
--------------------------------------------------------------------------------
289 1 26 - 99 30 -
Preferred stock - - - - - - -
Long-term debt 116 - - - - - -
--------------------------------------------------------------------------------
405 1 26 - 99 30 -
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt 9 - - - - - -
Notes payable - 1 - - - 65 -
Accounts payable 2 1 - - - 1 -
Accounts payable - related
parties 9 - - - - - -
Accrued interest 2 - - - - 2 -
Accrued taxes 2 - - - - - -
Other 1 - - - - - -
--------------------------------------------------------------------------------
25 2 - - - 68 -
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 4 - - - - - -
Deferred income taxes 43 - 1 - - - -
Deferred investment tax credit - - - - - - -
Other 1 - - - - - -
--------------------------------------------------------------------------------
48 - 1 - - - -
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 478 $ 3 $ 27 $ - $ 99 $ 98 $ -
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
NOMECO
Equatorial NOMECO NOMECO
NOMECO NOMECO Guinea Exploration NOMECO Colombia
PNG Oil China Oil Oil & Gas (Thailand) Holdings Oil
Co. Company Co. Limited Ltd. Company
<S> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ -
Other paid-in-capital 5 3 - 7 - 29
Retained earnings (1) (2) 2 (7) 5 (21)
--------------------------------------------------------------------
4 1 2 - 5 8
Preferred stock - - - - - -
Long-term debt - - 3 - - -
--------------------------------------------------------------------
4 1 5 - 5 8
--------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - - 1 - - -
Notes payable - - 6 - 6 -
Accounts payable - - - - - -
Accounts payable - related
parties - - - - 1 3
Accrued interest - - - - - -
Accrued taxes - - - - - -
Other - - - - - -
--------------------------------------------------------------------
- - 7 - 7 3
--------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - -
Deferred income taxes - - 1 - - (3)
Deferred investment tax credit - - - - - -
Other - - - - - -
--------------------------------------------------------------------
- - 1 - - (3)
--------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 4 $ 1 $ 13 $ - $ 12 $ 8
====================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS NOMECO
company Oil and Gas
Elimina- Company
tions Consol.
<S> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ (1) $ 15
Other paid-in-capital (199) 122
Retained earnings 24 152
-------------------
(176) 289
Preferred stock - -
Long-term debt - 119
-------------------
(176) 408
-------------------
Current Liabilities
Current portion of long-term
debt - 10
Notes payable (78) -
Accounts payable - 4
Accounts payable - related
parties (13) -
Accrued interest (3) 1
Accrued taxes - 2
Other - 1
-------------------
(94) 18
-------------------
Non-current Liabilities
Postretirement benefits - 4
Deferred income taxes - 42
Deferred investment tax credit - -
Other - 1
-------------------
- 47
-------------------
Total Stockholders' Equity
and Liabilities $ (270) $ 473
===================
<FN>
(4) Represents CMS NOMECO Oil and Gas Company, NOMECO Venezuela LDC and NOMECO Argentina LDC consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Mon
Generation Lake City Grayling Holdings Operating Valley
Co.(5) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ 2 $ - $ - $ - $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - - -
--------------------------------------------------------------------------------
2 - - - - - -
Construction work-in-progress - - - - - - -
--------------------------------------------------------------------------------
2 - - - - - -
--------------------------------------------------------------------------------
Investments
Associated companies 147 - - - - - -
Other 10 23 10 1 10 - -
--------------------------------------------------------------------------------
157 23 10 1 10 - -
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments 2 - - - - - -
Accounts receivable 20 - 2 1 - 3 -
Prepayments and other - - - - - - -
--------------------------------------------------------------------------------
22 - 2 1 - 3 -
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - - -
Other 42 - - 3 - - 1
--------------------------------------------------------------------------------
42 - - 3 - - 1
--------------------------------------------------------------------------------
Total Assets $ 223 $ 23 $ 12 $ 5 $ 10 $ 3 $ 1
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Mid- CMSG
Resource CMS CMSG Michigan Invest. CMSG CMSG
Development Generation Recycling Recycling Company Cebu Operating
Company S.A. Company L.L.C. I LDC S.A.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ - $ - $ 3 $ - $ - $ -
Less accumulated depreciation,
depletion and amortization - - - - - - -
--------------------------------------------------------------------------------
- - - 3 - - -
Construction work-in-progress - - - - - - -
--------------------------------------------------------------------------------
- - - 3 - - -
--------------------------------------------------------------------------------
Investments
Associated companies - - 2 - 10 - -
Other - 48 - - 1 8 12
--------------------------------------------------------------------------------
- 48 2 - 11 8 12
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments - - - - - - -
Accounts receivable - 1 - - - 1 -
Prepayments and other - - - - - - -
--------------------------------------------------------------------------------
- 1 - - - 1 -
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - - -
Other 1 - - 1 - - -
--------------------------------------------------------------------------------
1 - - 1 - - -
--------------------------------------------------------------------------------
Total Assets $ 1 $ 49 $ 2 $ 4 $ 11 $ 9 $ 12
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Assets
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Oxford CMSG OTR Oxford/ Inter- CMS
CMSG Tire San Northern CMS company Generation
Holdings Supply Nicolas California Development Elimina- Company
Company Inc. Company Inc. L.P. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Plant and Property (At Cost)
Independent power production $ - $ 1 $ - $ 1 $ 12 $ - $ 19
Less accumulated depreciation,
depletion and amortization - - - - - - -
--------------------------------------------------------------------------------
- 1 - 1 12 - 19
Construction work-in-progress - - - - - - -
--------------------------------------------------------------------------------
- 1 - 1 12 - 19
--------------------------------------------------------------------------------
Investments
Associated companies 1 - - - - (160) -
Other 8 - 22 - (2) - 151
--------------------------------------------------------------------------------
9 - 22 - (2) (160) 151
--------------------------------------------------------------------------------
Current Assets
Cash and temporary cash
investments - - - - - - 2
Accounts receivable 2 1 1 - 1 (7) 26
Prepayments and other - - - - - - -
--------------------------------------------------------------------------------
2 1 1 - 1 (7) 28
--------------------------------------------------------------------------------
Non-current Assets
Postretirement benefits - - - - - - -
Other 4 - - 2 - (10) 44
--------------------------------------------------------------------------------
4 - - 2 - (10) 44
--------------------------------------------------------------------------------
Total Assets $ 15 $ 2 $ 23 $ 3 $ 11 $ (177) $ 242
================================================================================
<FN>
(5) Represents CMS Generation Company, CMSG GP Company, CMSG Filer City Operating Company, CMS Midland II, CMSG
Altoona Company, CMSG Genesee Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Investment Company
II, CMSG Pinamucan LDC, CMSG Cebu Operating LDC Company, CMSG Montreal Company, OTR of Bloomfield, Inc., OTR of
Massachusetts, Inc. and OTR Southern California, Inc. consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
<CAPTION>
CMSG CMSG CMSG CMSG
CMS Honey Filer CMSG Grayling CMSG Mon
Generation Lake City Grayling Holdings Operating Valley
Co.(5) Company Inc. Company Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 290 5 6 4 7 3 -
Retained earnings (74) 7 3 - 1 (1) -
--------------------------------------------------------------------------------
216 12 9 4 8 2 -
Preferred stock - - - - - - -
Long-term debt - - - - - - -
--------------------------------------------------------------------------------
216 12 9 4 8 2 -
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Notes payable - - 1 - - - -
Accounts payable 5 - - - - - -
Accounts payable - related
parties 2 - - 1 - - 1
Accrued interest 2 - - - - - -
Accrued taxes 3 - - - - - -
Other 4 - - - - - -
--------------------------------------------------------------------------------
16 - 1 1 - - 1
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits 1 - - - - 1 -
Deferred income taxes (11) 9 2 - 2 - -
Deferred investment tax credit - 2 - - - - -
Other 1 - - - - - -
--------------------------------------------------------------------------------
(9) 11 2 - 2 1 -
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 223 $ 23 $ 12 $ 5 $ 10 $ 3 $ 1
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Mid- CMSG
Resource CMS CMSG Michigan Invest. CMSG CMSG
Development Generation Recycling Recycling Company Cebu Operating
Company S.A. Company L.L.C. I LDC S.A.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 1 45 2 4 11 9 12
Retained earnings - 3 - - - - -
--------------------------------------------------------------------------------
1 48 2 4 11 9 12
Preferred stock - - - - - - -
Long-term debt - - - - - - -
--------------------------------------------------------------------------------
1 48 2 4 11 9 12
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Notes payable - - - - - - -
Accounts payable - - - - - - -
Accounts payable - related
parties - - - - - - -
Accrued interest - - - - - - -
Accrued taxes - - - - - - -
Other - 1 - - - - -
--------------------------------------------------------------------------------
- 1 - - - - -
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - -
Deferred income taxes - - - - - - -
Deferred investment tax credit - - - - - - -
Other - - - - - - -
--------------------------------------------------------------------------------
- - - - - - -
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 1 $ 49 $ 2 $ 4 $ 11 $ 9 $ 12
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Balance Sheet - Equity and Liabilities
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Oxford CMSG OTR Oxford/ Inter- CMS
CMSG Tire San Northern CMS company Generation
Holdings Supply Nicolas California Development Elimina- Company
Company Inc. Company Inc. L.P. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Capitalization
Common Stockholders' Equity
Common stock $ - $ - $ - $ - $ - $ - $ -
Other paid-in-capital 3 2 21 1 11 (149) 288
Retained earnings (1) (2) 1 - - (11) (74)
--------------------------------------------------------------------------------
2 - 22 1 11 (160) 214
Preferred stock - - - - - - -
Long-term debt 10 - - 1 - (10) 1
--------------------------------------------------------------------------------
12 - 22 2 11 (170) 215
--------------------------------------------------------------------------------
Current Liabilities
Current portion of long-term
debt - - - - - - -
Notes payable - - - - - - 1
Accounts payable - - - - - - 5
Accounts payable - related
parties - 1 1 1 - (6) 1
Accrued interest 1 - - - - (1) 2
Accrued taxes - - - - - - 3
Other - - - - - - 5
--------------------------------------------------------------------------------
1 1 1 1 - (7) 17
--------------------------------------------------------------------------------
Non-current Liabilities
Postretirement benefits - - - - - - 2
Deferred income taxes 2 - - - - - 4
Deferred investment tax credit - - - - - - 2
Other - 1 - - - - 2
--------------------------------------------------------------------------------
2 1 - - - - 10
--------------------------------------------------------------------------------
Total Stockholders' Equity
and Liabilities $ 15 $ 2 $ 23 $ 3 $ 11 $ (177) $ 242
================================================================================
<FN>
(5) Represents CMS Generation Company, CMSG GP Company, CMSG Filer City Operating Company, CMS Midland II, CMSG
Altoona Company, CMSG Genesee Company, CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Investment Company
II, CMSG Pinamucan LDC, CMSG Cebu Operating LDC Company, CMSG Montreal Company, OTR of Bloomfield, Inc., OTR of
Massachusetts, Inc. and OTR Southern California, Inc. consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENERGY CORPORATION
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
<CAPTION>
Consumers CMS Inter-
Power Enterprises company CMS Energy
CMS Energy Company Company Elimina- Corporation
Corp.(1) Consol. Consol. tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ (707) $ 54 $ (121) $ 67 $ (707)
Net Income (Loss) 183 226 7 (213) 203
Less Dividends Paid
Common Stock 67 - - - 67
Preferred Stock - 24 14 (14) 24
Associated Companies 4 176 (8) (172) -
--------------------------------------------------------
71 200 6 (186) 91
--------------------------------------------------------
Balance at December 31, 1994 $ (595) $ 80 $ (120) $ 40 $ (595)
========================================================
<FN>
(1) Represents CMS Energy Corporation with Consumers Power Company and CMS Enterprises Company included on the equity
method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CONSUMERS POWER COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
<CAPTION>
Michigan Huron CMS Inter- Consumers
Consumers Gas Hydro- Midland CMS company Power
Power Storage carbons Holdings Midland Elimina- Company
Company(2) Company Inc. Company Inc. tions Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ 58 $ 15 $ 1 $ 12 $ (23) $ (9) $ 54
Net Income (Loss) 226 3 1 6 6 (16) 226
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock 24 - - - - - 24
Associated Companies 180 - - - - (4) 176
--------------------------------------------------------------------------------
204 - - - - (4) 200
--------------------------------------------------------------------------------
Balance at December 31, 1994 $ 80 $ 18 $ 2 $ 18 $ (17) $ (21) $ 80
================================================================================
<FN>
(2) Represents Consumers Power Company, CMS Engineering Company, ES Services Company and Midland Group, Inc.
consolidated with Michigan Gas Storage Company and Huron Hydrocarbons, Inc. included on the equity method of
accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
<CAPTION>
CMS NOMECO CMS CMS
CMS Oil and Generation Utility Monarch CMS Gas CMS Gas
Enterprises Gas Co. Company Services Management Marketing Transmission
Company(3) Consol. Consol. Inc. Company Company Company
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ (121) $ 142 $ (73) $ (3) $ (1) $ 1 $ 2
Net Income (Loss) 21 10 4 1 (1) 1 4
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock 14 - - - - - -
Associated Companies 6 - 5 - - - 1
--------------------------------------------------------------------------------
20 - 5 - - - 1
--------------------------------------------------------------------------------
Balance at December 31, 1994 $ (120) $ 152 $ (74) $ (2) $ (2) $ 2 $ 5
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS ENTERPRISES COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
Inter- CMS
CMS CMS company Enterprises
Land Capital Elimina- Company
Company Corp. tions Consol.
<S> <C> <C> <C> <C>
Balance at January 1, 1994 $ - $ (1) $ (67) $ (121)
Net Income (Loss) 1 - (20) 21
Less Dividends Paid
Common Stock - - - -
Preferred Stock - - - 14
Associated Companies - - (6) 6
--------------------------------------------
- - (6) 20
--------------------------------------------
Balance at December 31, 1994 $ 1 $ (1) $ (81) $ (120)
============================================
<FN>
(3) Represents CMS Enterprises Company and KJL Limited, Inc. with CMS NOMECO Oil and Gas Company, CMS Generation
Company, CMS Utility Services, Inc., CMS Land Company, CMS Capital Corporation, CMS Gas Marketing Company,
CMS Gas Transmission Company and Monarch Management Company include on the equity method of accounting.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
<CAPTION>
NOMECO
NOMECO Equatorial NOMECO
CMS NOMECO NOMECO Inter- NOMECO Guinea NOMECO Colombia
Oil and Gas Australia national Ecuador Oil & Gas Holdings Oil
Company(4) Pty. Ltd. Ltd. LDC Co. Ltd. Company
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ 142 $ 1 $ - $ - $ 1 $ 4 $ (20)
Net Income (Loss) 10 - (2) 1 1 1 -
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies - - - - - - 1
--------------------------------------------------------------------------------
- - - - - - 1
--------------------------------------------------------------------------------
Balance at December 31, 1994 $ 152 $ 1 $ (2) $ 1 $ 2 $ 5 $ (21)
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS NOMECO OIL AND GAS COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
NOMECO Inter- CMS NOMECO
Exploration NOMECO NOMECO company Oil and Gas
(Thailand) China Oil PNG Oil Elimina- Company
Limited Company Co. tions Consol.
<S> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ (3) $ (2) $ - $ 19 $ 142
Net Income (Loss) (4) - (1) 4 10
Less Dividends Paid
Common Stock - - - - -
Preferred Stock - - - - -
Associated Companies - - - (1) -
--------------------------------------------------------
- - - (1) -
--------------------------------------------------------
Balance at December 31, 1994 $ (7) $ (2) $ (1) $ 24 $ 152
========================================================
<FN>
(4) Represents CMS NOMECO Oil and Gas Company, NOMECO Thailand Oil Company, NOMECO Pipeline Company, Explotaciones
Nomeco Inc., NOMECO Venezuela LDC and NOMECO Argentina LDC consolidated.
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
<CAPTION>
CMSG CMSG CMSG Oxford
CMS Honey Filer CMSG Grayling CMSG Tire
Generation Lake City Holdings Holdings Operating Supply
Co.(5) Company Inc. Company Company Company Inc.
<S> <C> <C> <C> <C> <C> <C> <C>
Balance at January 1, 1994 $ (73) $ 6 $ 2 $ - $ 1 $ (1) $ (2)
Net Income (Loss) 4 3 3 (1) 1 - -
Less Dividends Paid
Common Stock - - - - - - -
Preferred Stock - - - - - - -
Associated Companies 5 2 2 - 1 - -
--------------------------------------------------------------------------------
5 2 2 - 1 - -
--------------------------------------------------------------------------------
Balance at December 31, 1994 $ (74) $ 7 $ 3 $ (1) $ 1 $ (1) $ (2)
================================================================================
<FN>
(Continued on Following Page)
</TABLE>
<PAGE>
<PAGE>
<TABLE>
CMS GENERATION COMPANY
Consolidating Statement of Retained Earnings
December 31, 1994
(In Millions)
(Continued from Previous Page)
<CAPTION>
CMSG Inter- CMS
CMS San company Generation
Generation Nicolas Elimina- Company
S.A. Company tions Consol.
<S> <C> <C> <C> <C>
Balance at January 1, 1994 $ - $ - $ (6) $ (73)
Net Income (Loss) 3 1 (10) 4
Less Dividends Paid
Common Stock - - - -
Preferred Stock - - - -
Associated Companies - - (5) 5
--------------------------------------------
- - (5) 5
--------------------------------------------
Balance at December 31, 1994 $ 3 $ 1 $ (11) $ (74)
============================================
<FN>
(5) Represents CMS Generation Company, CMSG GP Company, CMSG Filer City Operating Company, CMSG Grayling Company, CMSG
Mon Valley Company, CMS Midland II, CMS Resource Development Company, CMSG Genesee Company, CMSG Recycling
Company, Mid-Michigan Recycling L.L.C., CMSG Lyonsdale Company, CMSG Chateaugay Company, CMSG Investment Company
I, CMSG Investment Company II, CMSG Pinamucan LDC, CMSG Cebu LDC, CMSG Cebu Operating LDC Company, CMSG Montreal
Company, CMSG Operating S.A., OTR Northern California, Inc., OTR Southern California, Inc., OTR of Bloomfield,
Inc., OTR of Massachusetts, Inc. and Oxford/CMS Development L.P. consolidated.
</TABLE>
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF INCOME AND BALANCE SHEET AND QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 7,384
<TOTAL-OPERATING-REVENUES> 3,619
<NET-INCOME> 179
</TABLE>
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding company
system.
CENTRAL TERMICA SAN NICOLAS, S.A.:
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation San Nicolas Company
*
*
* 50%
CEMAS
*
*
* 37%
Inversora de San Nicolas, S.A.
*
*
* 88%
Central Termica San Nicolas, S.A.
CMS Generation San Nicolas Company, the wholly owned subsidiary of CMS
Generation Co., owns 50% of CEMAS which in turn owns 37% of Inversora de
San Nicolas, which in turn owns 88% of Central Termica San Nicolas, S.A.,
the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding company
system.
HIDROELECTRICA EL CHOCON, S.A.:
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation, S.A.
*
*
* 25%
Hidroinvest, S.A.
*
*
* 59%
El Chocon
CMS Generation, S.A., a wholly-owned subsidiary of CMS Generation Co.,
owns 25% of Hidroinvest which in turn owns 59% of El Chocon, the EWG.<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or
foreign utility company to associate companies in the holding company
system.
TOLEDO POWER COMPANY
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Generation Investment Co. I & II
*
*
*
CMS Generation Cebu Limited Duration Company
*
*
* 32.5%
Toledo Power Company
CMS Generation Cebu Limited Duration Company, the wholly-
owned subsidiary of CMS Generation Investment Company owns 32.5% of Toledo
Power Company, the EWG.
<PAGE>
<PAGE>
An organizational chart showing the relationship of each EWG or foreign utility
company to associate companies in the holding company system.
CENTRALES TERMICAS Mendoza, S.A.
CMS Energy Corporation
*
*
*
CMS Enterprises Company
*
*
*
CMS Generation Co.
*
*
*
CMS Operating, S.A.
*
*
* 80%
Cuyana de Inversiones
*
*
* 51%
Centrales Termicas Mendoza, S.A.
CMS Operating, S.A., the wholly-owned subsidiary of CMS
Generation Co. owns 80% of Cuyana de Inversiones which in turn owns 51% of
Centrales Termicas Mendoza, S.A., the EWG.
<PAGE>
